Mullen Automotive Inc. shares were up 24% to $1.20 after the company said it saw positive results from its solid-state polymer battery testing with the Battery Innovation Center in Indiana.
The company said testing results from BIC show the solid-state polymer cell, rated at 300 Ah and 3.7 volts, tested in at 343.28 Ah at 4.2 volts, exceeding expectation and in line with test tolerance from previous EV Grid test results.
The test data collected from both BIC and EV Grid have exceeded expected test tolerance and show an impressive outcome and future for solid-state batteries, it said.
It is expected that with this technology, when scaled to the vehicle pack level, a 150-kilowatt hour solid-state battery can deliver over 600 miles of range on a full charge for the Mullen FIVE EV Crossover, Mullen said.